NHPC, BEML, NTPC Green Energy and GAIL Share Price Jumps as Markets Witness Sustained Buying
NHPC, BEML, NTPC Green Energy and GAIL were among PSU stocks that witnessed strong performance on Wednesday. Indian markets have stabilized for the moment, after many weeks of selling in almost all the sectors. Public sector stocks were among the worst performing during the selling as many stocks touched yearly lows. NHPC and BEML stocks were up by almost 2 percent. Among major gainers on NSE were IndusInd Bank, Tata Motors, Kotak Mahindra Bank, Bajaj Finance, HDFC Bank, ITC and Eicher Motors. Cipla, Britannia and Coal India ended the session slightly positive. Among losers on NSE were Infosys Technologies, TCS, Axis Bank, Tata Consumer, Tech Mahindra, HCL Technologies and Wipro. TopNews Team has reviewed technical levels for some of the top performing PSU stocks for traders and short term investors.
BEML Fibonacci Retracement Levels
| Fibonacci Level | Price (Rs) |
|---|---|
| 0.236 | Rs 2392.95 |
| 0.382 | Rs 2419.52 |
| 0.500 | Rs 2441.00 |
| 0.618 | Rs 2462.48 |
| 0.786 | Rs 2493.05 |
BEML Analysis: BEML's current stock movement suggests consolidation near its lows. A breakout above Rs 2,532 could signal bullish momentum. Support lies near Rs 2,350, with a critical level at Rs 2,450.
NHPC Fibonacci Retracement Levels
| Fibonacci Level | Price (Rs) |
|---|---|
| 0.236 | Rs 82.19 |
| 0.382 | Rs 89.11 |
| 0.500 | Rs 94.70 |
| 0.618 | Rs 100.29 |
| 0.786 | Rs 108.26 |
NHPC Analysis: NHPC has shown resilience with support near Rs 71. A push beyond Rs 78.50 could lead to further gains. The stock remains within a tight range, awaiting breakout confirmation.
NTPC Green Energy Fibonacci Retracement Levels
| Fibonacci Level | Price (Rs) |
|---|---|
| 0.236 | Rs 101.26 |
| 0.382 | Rs 111.60 |
| 0.500 | Rs 119.95 |
| 0.618 | Rs 128.30 |
| 0.786 | Rs 140.20 |
NTPC Green Energy Analysis: NTPC Green Energy remains volatile, testing support at Rs 84.55. Resistance at Rs 99.89 must be breached for an uptrend. A drop below Rs 95.76 may signal weakness.
Gail (India) Limited Fibonacci Retracement Levels
| Fibonacci Level | Price (Rs) |
|---|---|
| 0.236 | Rs 173.12 |
| 0.382 | Rs 187.11 |
| 0.500 | Rs 198.41 |
| 0.618 | Rs 209.71 |
| 0.786 | Rs 225.80 |
Gail (India) Limited Analysis: GAIL is holding firm near Rs 157, with Rs 161.65 acting as a short-term barrier. Long-term strength will be confirmed above Rs 170. Key support rests at Rs 150.52.
Technical Insights
BEML Technical Insight: BEML is approaching a key resistance near Rs 2,532. A decisive breakout above this level could drive further bullish momentum, while support at Rs 2,350 remains crucial for stability.
NHPC Technical Insight: NHPC is trading within a consolidation phase. A move beyond Rs 78.50 could signal an upward trend, whereas a breakdown below Rs 76.69 may indicate further downside pressure.
NTPC Green Energy Technical Insight: NTPC Green Energy is testing short-term resistance at Rs 99.89. A breakout above this could pave the way for a rally, while strong support at Rs 84.55 should provide stability.
Gail (India) Limited Technical Insight: GAIL remains range-bound, with resistance at Rs 161.65 capping gains. A sustained push above this level could drive a bullish breakout, while key support lies at Rs 150.52.
